Trade, be it barter exchange or buying and selling of goods and services has been prevalent for centuries. No one can be self-sufficient. And this brings out the need for demand and supply of goods and services. Transactions have been going on all over the world for centuries, locally, and across locations. Keeping the same concept in mind, now think electronic. India’s e-commerce market is expected to record $33 billion

India’s e-commerce market is expected to record $33 billion

What is e-Commerce?

e-Commerce, also known as e-Business, or electronic business, is simply the sale and purchase of services and goods over an electronic medium, like the Internet. It also involves electronically transferring data and funds between two or more parties. Simply put, it is online shopping as we commonly know it. India’s e-commerce market is expected to record $33 billion

e-Commerce start way back in the 1960s when organizations began to use Electronic Data Interchange to transfer documents of their business back and forth. The 1990s saw the emergence of online shopping businesses, which is quite a phenomenon today. It has become so convenient and easy, that anyone can shop for anything right from a living room, with just a few clicks. This has evolve more with the emergence of smartphones, where now, you can shop from anywhere and anytime, with a wireless device connect to the Internet.

So, Now you can search for almost any product or service online, without having to go anywhere physically. As a result, India’s e-commerce market is expected to record $33 billion. Also, India’s e-commerce market is expected to record $33 billion

India’s e-commerce market is expected to record $33 billion

What is an eCommerce website?

eCommerce websites are online portals that facilitate online transactions of goods and services through means of the transfer of information and funds over the Internet. In the early days, people practise e-Commerce partially through emails and phone calls.

Now, with a single website, anything and everything that a transaction needs, can be execute online. India’s e-commerce market is expected to record $33 billion

There are different e-Commerce websites for every field. The most common type is retail selling, but there are many others too, like auction websites, business-to-business services, music portals, consultancy websites, finance management websites, and the like. India’s e-commerce market is expected to record $33 billion

India’s e-commerce market is expected to record $33 billion

Walmart

Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores.

Headquarter in Bentonville, Arkansas. Sam Walton was founder of the company, emerge in 1962 and began its journey on October 31, 1969.

It also owns and operates Sam’s Club retail warehouses. As of January 31, 2018, Walmart has 11,718 stores and clubs in 28countries, operating under 59 differentnames.

Thus, The company operates under the name Walmart in the United States and Canada, as Walmart de México y Centroamérica in Mexico and Central America, as Asda in the United Kingdom, as the Seiyu Group in Japan, and as Best Price in India. It has wholly own operations in Argentina, Chile, Brazil, and Canada. India’s e-commerce market is expected to record $33 billion

Walmart is the world’s largest company by revenue – approximately US$486 billion according to Fortune Global 500 list in 2017 – as well as the largest private employer in the world with 2.3million employees. So, It is a publicly trad family-own business, as the company is control by the Walton family. Sam Walton’s heirs own over 50percent of Walmart through their holding company, Walton Enterprises, and through their individual holdings.

therefore, Walmart was the largest U.S. grocery retailer in 2016, and 62.3percent of Walmart’s US$478.614billion sales came from U.S. operations. India’s e-commerce market will to record $33 billion. So, India’s e-commerce market is expected to record $33 billion.

India’s e-commerce market is expected to record $33 billion

Flipkart

Flipkart Pvt Ltd. is an Indian electronic commerce company base in Bengaluru, India. Found by Sachin Bansal and Binny Bansal (no relation) in 2007, the company initially focuse on book sales, before expanding into other product categories such as consumer electronics, fashion, and lifestyle products. As a Result, India’s e-commerce market is expected to record $33 billion

India’s e-commerce market is expected to record $33 billion

Walmart Deal

When Walmart close a deal to acquire a 77% stake in Flipkart, India’s leading online retail platform, for $16 billion last month, its motivation was clear. The US retailer want to conquer India’s e-commerce market, power by the belief that the market was prime for staggering growth. thats why, India’s e-commerce market is expected to record $33 billion. As a result, India’s e-commerce market is expected to record $33 billion.

And grow it shall. According to eMarketer, a market intelligence firm, online retail sales will rise by nearly a third to $32.7 billion aid by the growth of the discount hungry-middle class and contin smartphone and internet penetration.

that why, This makes India’s e-commerce market the fastest growing in the Asia-Pacific after those of China and Indonesia. India’s e-commerce market is expected to record $33 billion. Moreover, India’s e-commerce market is expected to record $33 billion.

India’s e-commerce market is expected to record $33 billion

Room to grow

As Walmart was closing its Flipkart detail, it forecast that India’s e-commerce sector would grow four times as fast as the overall retail sector over the next five years. The product segments that will contribute to this growth are mainly groceries and fashion. India’s e-commerce market is expected to record $33 billion

So, India’s e-commerce market has tripl in size since 2015. While the rate of growth becomes harder to top each year as the market expands, e-commerce sales will still comprise only 3% of the total retail sales in India this year.

Hence, there’s a lot of room to grow. In fact, online sales are expecting to more than double between 2018 and 2022, reaching $72 billion. as a result, India’s e-commerce market is expected to record $33 billion

Moreover, people are shopping online in India than ever before. By the end of the year, around a quarter of the population will be shopping online.

India’s e-commerce market is expected to record $33 billion

Companies with big pockets

The companies that are earning benefits from it is also contributing to the growth.

So, Amazon, Flipkart and the Alibaba-back Paytm Mall are spending big money on offering discounts to consumers and improving their logistics and supply chain infrastructure.

Their heavy competition with one another for the top spot in the market will result in lower prices for Indian shoppers in the near term.India’s e-commerce market is expected to record $33 billion.